Live Nation has updated its refund policy for concerts postponed by the novel coronavirus (COVID-19) pandemic. The newly revised policy will give fans with tickets to indefinitely postponed events the opportunity to get their money back after a waiting period.

The New York Times reports that Live Nation's coronavirus-related refund policy will now give fans the opportunity to pursue refunds for postponed events if a new show date is not set within 60 days. The original refund policy required a new date to be set before refunds would be offered.

“Fans, we hear you," Michael Rapino, CEO of Live Nation (which owns Ticketmaster), tweeted on Friday (April 24). "We don’t want you to be waiting in limbo while shows are being rescheduled."

Live Nation/Ticketmaster's refund policy for events postponed or canceled by the coronavirus pandemic goes into effect on May 1. The policy will also give fans with tickets to postponed shows 30 days from the time of the postponement to seek a refund; for any events previously postponed in March and April, the 30-day window will begin on May 1. Refunds will automatically be sent for canceled shows.

A refund put in place by fellow event giant AEG Presents is similar. The two companies developed their policies in concert with each other a number of major talent agencies.

In light of the thousands of events that have been postponed or canceled due to the coronavirus pandemic, both ticketing companies and secondary sellers have drawn ire because of their refund policies. A class-action lawsuit has been filed against StubHub in particular due to its change in policy, which has tied up ticketholders' money even after events have been canceled.

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